After a prolonged period of rapid growth underpinned by a booming economy and government incentives for car purchase, China’s car market appeared to slow sharply in February.
Sales of passenger cars in February increased just 2.6% from a year earlier to 967,200 units according to data released by the China Association of Automobile Manufacturers (CAAM).
Go deeper with GlobalData
February marked the slowest pace of growth since January 2009.
However, analysts noted that February last year was a strong month, pushing up the comparative base.
In the January-February period, 2.5m passenger vehicles were sold in China, up 10.5% from last year.
It is widely expected that China’s car market will slow in 2011 in response to government measures to an overheating economy and the removal of incentives for car purchase.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataSome analysts are speculating that a price war could break out this year as OEMs look to maintain ambitious volume targets in the face of cooling demand.
